Just Imagine!!! What shall happen, if a sports activity develops an interest and seeks your attention for an hour every day. The same magic is being developed by the fantasy sports apps that put a massive effect on more than 80 million people, globally.
With the growing evolution of Fantasy Sports, it is the best time to start your business with this emerging trend and build a fantasy sports app for significant and profitable success.
Among all the popular games which fantasy sports apps serve, football takes the lead, covering 36% of the total industry profits are football leagues and Baseball, Auto racing, Basketball and Cricket are following the trend. Undeniably, Fantasy sports is a big profitable platform that has an industry worth that ranges from $30 billion to $80 billion per year, including real expenses and ad profits.
Considering this, Fantasy Sports App development business is indeed a productive investment that pays profits instantly.
Developing markets for Fantasy Sports Application
From the total fantasy sports players, 58 million users are likely to play long fantasy sports leagues while only 10 million people are signed up in Daily fantasy sports platforms in which 95% are males.
30% of women are likely to play long fantasy sports leagues. The long seasonal leagues have attracted them in such a way that 45% of this segment is a big fan of football leagues.
According to recent reports, the industry generates around $7.5 billion in profits yearly. Today, fantasy sports are not only limited to the US and Canada; they are now spreading its fame in other demographics regions such as Europe, Asia, and Africa. Fantasy Cricket in India has covered a significant market share in fantasy sports with a business of $150 billion.
Evolution of the fantasy sports industry
The fantasy sports industry has been developing since the Internet has become a domiciliary name. The most significant change happened with the introduction of the two most popular fantasy sports apps- FanDuel and DraftKings.
FanDuel was introduced in 2009 followed by DraftKings in 2012. Both of the platforms started their journey as start-ups that offer daily fantasy sports, and soon they become the big brands in the fantasy sports industry offering million-dollar prize money and generating billions as their registering fees.
The big companies like ESPN, Yahoo Sports, are having their own fantasy sports platforms and offering specific leagues such as the National Football league. Fantasy sports put its unique impact all over the world that many countries are accepting it as a game of skills, not gambling.
Leaders in the fantasy sports industry
DraftKings and FanDuel almost dominated the industry by their daily fantasy sports concept.
DraftKings, from Boston, offers significant leagues such as NFL, NBA, NASCAR, auto racing and allow their users to play daily or weekly fantasy sports contests in the specific leagues. In contrast, FanDuel offers the most significant daily fantasy sports service in the New York city based on entry fees and customer base.
If we talk about cricket fantasy sports, then two prominent platforms based out of India sprinkle the magic of fantasy cricket across the globe.
Dream11 and MyTeam11 are the fantasy sports platform that allows players to play fantasy cricket, kabaddi, basketball, volleyball and football, founded in 2012 and 2016 respectively.
Prospects of the industry
The fantasy sports industry has always been in the news related to its profits, customer base and its evolution. Experts have observed that the development of the industry creates a unique identity around its customer base.
Cricket for Indians is a way of life; their mornings begin with a cup of tea, and a little discussion about cricket. Cricket is considered another religion in India, from watching and playing the sport religiously to following and idolizing its players, Indian fans know how to be great supporters.
A vivid cultural picture gets highlighted the moment when you think of Cricket and India. The game adores branding in day-to-day living like no other sport. Virat’s stone-carved body and trendsetting haircuts, Dhoni’s superb bike collection, attracts sports fanatics more towards cricket.
A dream beginning of fantasy Cricket
Apart from real-time sports leagues, fantasy cricket leagues have also acquired gigantic fame and did a big business in India. Gathering virtual teams of real favourite players and then competing against each other based on their performance in actual games, this alone is the very idea of fantasy cricket which brings the industry about 1.73-billion-dollar profits every year.
Fantasy cricket platforms have risen around 900% with their 200 million customer bases, which was just 2 million in 2016.
Fantasy Sports are massive globally
Fantasy sports were not trending before, it may sound like that they were introduced in the market currently, based on small-scale entertainment sport and for youths, but the fantasy sports are a whole lot more than that. It was originated in 1962, and prominent advertising companies like Disney’s ESPN, Yahoo and CBS are associated with it.
It came in light and got fame when DraftKings and FanDuel started offering daily and weekly games and raised a large business of around $300 million from the investors.
Why should start-ups consider launching the Fantasy Cricket in India?
If a platform has something interesting to offer, it automatically attracts a large number of participants, achieves fame across the globe in a short time, and provide you with good revenue, who wouldn’t want to take it up? Fantasy Cricket is one such business. Here’s how it can bring you high profit-
- Profitable business model.
- Advertise as you please.
- Streams of revenue.
Worldwide Market share Fantasy Sport Platforms
America is the hub of Fantasy Sports, the profits market share in 2017 was 58%, the second largest area in the world is Europe known for football had profit market share of 14% in 2017.
The global fantasy sports market will rise by 7.62 billion US dollars with a CAGR of 11% during 2018-2022 and is expected to reach more than $1.5 billion by 2025 with a CAGR of 13.2%.
Technologies required to develop Fantasy Sports App
There are a lot of technologies that used in developing a Fantasy Sports App, such as:
- Sports API.
- Payment Platforms.
- Front End Development.
- Back End Development.
- Cloud Environment.
- Real-time Analytics.
- Push Notifications.